The Philadelphia Inquirer from Philadelphia, Pennsylvania • Page 28

THE PHILADELPHIA INQUIRER, FRIDAY MORNING, MAY 24, 1923 KKtQffT ktlonofe (,.. CORPORATION EARNINGS HE RISE HE 1 STOCKS 01 SHOUT COVERING ENNA RAILROAD April. 4.Rf2.t6:, Amt. 5fi.02fl.fi2r. lUUwar operating rTfliueg.

5- LED lllf UTILITIES Oils Also Among Leaders ir Climb Upward; Some Issues Down Riileii In tlOOO. Rlih. Low. fmi'i Val 7 '48 I 87 int 8k tier 6. i 1 in le Mte 611 '31 1 Com 'r Hit 5'2 '37 81 Hun 0 '53 2 8211 8 2 Vi 97 84 Vi 84'4 2l'4 95 351 Crui Ilk 6 30 25 lO'l'KrrotH 5' 21 63 10 92' 2 I 'I I84 62 "2 2014 3'1 65 '1 39l'2 Kin Kk 6 '61 6 Kruikft 6'2ll '53 I llHlnenklr.Ti 6 '34 I Oertnlii Conn 7 '47 3 limn Kl II 5' 2 38.

6 HmnliK Kl 7n '35 I llmiovrr I'r 6'2i '49 3 llnl Klip 6a '63 lit. I lino 81 It '57 15 Idnm 6'2i '38 7 Medelilli 7 '6i 7 MlllllOKM '51 Montevideo 6n '59 I I'nrmui Stu 7 '58 I ITii.I SI 6 52. 10 Primklii 8 6''2K '51 3 llnlir (i Co 61 2 '63 10 ftiliimtiil 7" '59. 2 ItlKKll '21 5 ltiiai.ii 5''2H '21 roil 10 lliiw.m 6' 2 '19 II ItimH 6 '211 '19 cod. 35 Simrlirliecken 7l '31 2 Sliniiei 7 '46 2 I In fVir i.ji '41 16 I Rt A 6 21 2 Ei-dlTldenili 87 86't 90 89 96-11 96 83 99'l 89 38H 414 56'l 19 77'1 Close.

94 48 33'l 2414 77'4 88la 94 85 9012 81 8414 14 99'a 8511 371i 94 14 95 941-2 851-4 85(2 91 1 2 1 14 26 14 29 28'l 20 Vi 2812 36 26'2 14 14 14 1411 too 88(2 30'4 1512 I28'1 3 1 1,2 20'4 46 60 66 84 I4l i tBi St.4l,RtH flflfl.lH 003 Kri.SlK 7.710 a.s n.rrOfl.lfiR 8.832.T() 1,158, 76S 48.418 gl.lW2 Bales, 2O0 4900 3 no 300 7500 2700 50 100 5700 200 300 JOO 300 1000 200 75 200 I I 810 High. 27 1 91 47'-i I 2 Fust Nat Corp rokkrr Air vi i 58'i orcl Mtr (da A 52' do class rin rialits 82' 2 62 1714 Ford Mir Ltd rr. Foremost I) pr pf. Foremost Fabrics Fnrlian A Foiindstlnii Frn Theatre A r'enkliii Mfg l.i preferred Freed Kisi'inatin Frcshmsn I In, 22 2 '-'4 2fi'2 14 '4 14 2 6 'i 36 87 2 'l 10' 2 73' a 73 1 2 dn rls wl rash. I 940jO OB (lelrtia pf rod.

50 do pf roil SO Oarlock IVkg 200 Hears 4 for IO0 lien Alloy I'll 1700 Am Invest 200 lien In it i 4500 do preferred 200 (ieti fj, lilv urn 300 23ii 231 4 7-8 I7' 82' 2 7'i 68 28 lien Kl I. Ill rls led Ale wi lien il ml in I'nh Reiv Urn Unity ft no preferred Olen I'nnib Hr 800 800 341 2 400 24U 700 3800 300 4IH 18 9014 I 00 110 110 (icild Unit Mln tSOOO l.nbten Cenlre 3400 I '4 6 1 linld field oin 100 '2 linldfli Sue 14800 lOI'l 99 111 LlfH (,,,1 yi laaii. Fed A Fist Motors do reh ruins fire As Phils 600 941 4 flil 541 5 1 82 62 I 7 254 26'2 25 36 87 2il 9 73' 73' 7i 171 81 7 68 26''4 1214 34' 2314 39'1 18 9014 I 5' I i Lore. 40'! 281 47 1 I expenftrs rpvt-mte from rll'flj oprtiom Kni.wft.T tux ac-mill reveniiet. ft nil wat operating Income En" Ipmpnr.

rpnti. dt-hir h-tln fire fni'iltty riiiH debit Net- rIInr opT-tlnK iiMoniP 12.231.873 WEST JERSEY ft SEASHORE R. R. April. Amt.

Inrrea.e 7714 88' 2 94 85 1-4 91 81 84 14 100 86 Electric Investors and I. Up 91-2 and Points, Respectively rihis NEW YORK, May 23 (A. Trices in the Curb after threw days of steady liquidation, turned briskly upward today uiuler the inspired 1 1 1.... .1 i.i: I KC.tl24 88.131 IRO.IKig IJ.T93 Sll.ttlil 5.848 17 18 100.277 8.161 irn. iciBilip III IIIU IllllllIC 1J oils, onins ranged trom points.

A sprinkling of issues losses. 94 1300 24 22 11 24 200 70 70 70 5000 .50 .30 .50 2300 10 4 10' a 0' 300 82U 81 82 1 4 1600 421 45i 4l-'' 10 420 410 415 120 I 17' 2 I 1 7 '2 I 17' 200 151-2 I5'I IS' 2 1200 43'. 143'. 2O0 38'. 1 38' i 38ii 300 60 59i 60 6600 175 I 7 0 1 74 'it 300 29 28 '4 28 '4 200 31,2 3'4 31.2 2800 60 59 60 the entire lift was carried oft in the first hour by the overnight flocumulitlion of selling order.

As soon as these were absorbed, traders whose confidence in an uncliBnced Federal Unserve rediscount rule and drop in brokers' loiuis was warded, look the reins and never reliniiui.vbed their hold. An udvnnce in the ntte is looked for, however, in the next fnrtniiihl. Hallway operating expensea Net revenue from railway operations. Railway tax accrual Cnrollertihle railway l-evenuee Hallway inrouie operating BLAUNER 8 STORE Net sale of Blauner'i store for 111 three months ended April 31). WM.

totaled J2.6J7.-tHTi. operating proRis suiounted to and net prottl. afler provision for Federal ncoma taxc wen $177,301, ARIZONA EDISON CO. Arisen Edison Company. subsidiary of r.i.ht and P.wer Corporation, re ports gross revenue of for the ar '1 lei Warm lll.vt.

as comiinreo wim fir tin preceding twelve months. THE ALLERT0M CORPORATION The Al'erton Corporilion reporti grosi Income of I1.oR'.9I5 from ill Allerlon Club resl-a i. v.ipi. riiv for the, vear ended lierember 31. lll-R.

Operating expense and taxc were il4.S-l3. nd interest, unortir.atlon of New York ubs'dlarv rompiiiiiea were $348,783. leaving available for debenture Interest, depreciation, eic Iiebentiire interest for the year imounted to tHUO-l. NEHI CORPORATION m.niil.nln.PPl of BOft OI 1 1, m- 1 drink ei.neentralea. reports sales for.

1 11 April 8' 2 I8'4 29ii Investment trusts 99 681 5I-V4 66 50 36''2 STOCKS AIpt Iliimihon Inr Tornn A A I I it trr Corpn Am Allan Jnr Cpn uniii Atn H(in( Klmrp Am Hr 8' prf Amp Pn pi la 1 Corpn Amer KiiropHii ilo prcfrrfd Antfr K'tundfra Corpn I40tii rtfn rt'j 6't prrff tH lr'o preferred curtr preferred Amer C.cii uniti do Claim A do Cl Ann-r London Engld pref dn piirlft" prffi'rrfd Aini'f liivcutorB lii'- Hpmrit Invt'ttori do prefcrrpd A hi or Kinxo'-iiil Cpn A do CImm At luiiic I ride do t-w rntiiU do t'fe pref du uniu do Atlntitk' Kcnir Corpn do titj.il dfi imriHiim pHiicomm.t Corpn Hiikrn Kin rmt Bm 1 11 of Am do tm'tii Bjnkprn N.itl Inr Cn A Ilunkeri yptur 'I'r of Amer Bid. 18 106 110 50 28 ('a 86 1712 95 98 IO6 V4 1 .75 .79 44V4 60 101 104 71 29 10 40 50 1514 23 99 104 46 10 35 34(i 44 14 74 t'A 37 8412 6'-2 96 31 16' 2SV4 18 27-'( 98 134 52 31 104 22 'i 398 24'i 36'2 52'! 9(4 17 2 41 66 1 12 100 A3i 26 198 37 1 04 59 i. 1 0 1 4 37 47? 1 l8'4 58 53 89''2 86'. 1 71 22 I 7 1 one to ten; issue ittifTervd Jriii ir tie tin rJultiN llollintit Knit Co liriiniopliiini. Co lirmiite Cily lilt A A I' nv do prefrrted (ireeiifirld '111 Ilrllfliy lirilll'MV 1 ton im (iiip sh liniir Fli-if As (iiiir oil Vn Hell I'rilit Ihippl dimly Ilit.vinirl t'orim 200 60'4 6R 5100 200 300 200 200 3200 200 200 500 30.0 300 600 700 I7'2 20'4 26', I 3 1 11 Wnlker new do rlkTi'" ft 1.1 1 lur Coup 1 1 "It.

pref A llnniiiokl.i oil flora ft Hiird Hon Her A Hoover SI I Ilnlii.elii.ld Km pf. Iltl Hay ft s. Ilnnit.ie till Hll.M.T of Pel 19 4 6'l 23' 2 4'4 54 44 21 49 41 53 1 44 20 49 4500 17' 4 17 600 I 161 2 400 25'2 261,2 I7'l 201 26'2 6 23' I41'4 Wectne Juvestors and I niteil (iafii Improvement were the market leaileis.i The fnrnier closed at 118, ils lii((h 11 level for the day and a net jump of Hey 'ii I'orp Asked 20 60 3114 88 I8ia 99 09 V4 474 53 74 33 12 43 28 50 14 38 48 12 77 714 38(a 86 98 37 29 20 19 22 8V 10 17(2 It 45 51 29 1 'a 31 "i f.ait iali. Phila. Bank Stocks 821,2 8414 NATIONAL BANKS llir'd.

Bid Asked. Central National 24.3 915 935 Cits Natl Bk ft i'r 235 245 Corn Keh NRAT 4 2 180 186 Kighth National 3015 1075 1116 First National 18 555 570 Maiiayunk gusk Cy. 20 525 545 Rt Natl 14 610 630 Bank of Gin .2 40 123 128 Natl Recllrtty 30H0 1600 1650 Northwestern Natl .25.5 955 975 Penn National 24 8 1 5 830 Philadelphia Natl .4.8040 202 208 Recond National 2i.20 71 76 Ruth National 12 2 370 395 Roiitliwark Natl ..1.80 461 48 Rout hwestern Natl 6-1 240 250 Tenth National 1 .20 58 62 Testile Natl 35 40 Tradesmen NRAT 12 690 610 92 87 4 TRUST COMPANIES iiiv'd. Bid Asked. 245 200 145 52 134 78 48 288 73 49 1005 610 610 77 1085 340 1940 690 182 480 615 650 520 1425 1350 450 146 890 70 360 180 Aldine Trust Co 12 American Bk ft Tr 7 Bank Nor Am A T'r.

4 Hank of Phi ft Tr. I 20 Bankers Trust 3 Hroaii Sf Trust 3 Cen till Tr ft STjs. 1 Colonial Trust 6 Columbia Aye Tr ..1.40 Continental Kqilit .80. 10 Fidelily l'hll Tr 24 Finance Co of Pi. 16 Frnnkford Trust 12 Franklin Trust 2 lieriiiantown Trust 20 (I I raid Ave lit 10 liirard Trust Co 40 Industrial Trust I2l4 Integrity Trust 4 Kensington TTut 10t Market Ht TftT 121 Bunk ft Tr 18 North Phila Trust 12-1 Northern Truat Northwestern TV ..25 235 185 140 48 128 73 44 278 69 46 995 680 490 73 1070 320 1900 580 177 440 690 630 500 1350 1250 420 141 875 67 350 173 It Olney Bank ft Trust.

5(3 Pentta Co, etc 3 Provident Trust Heal Kst Title Ileal Kst Tr laastd) Republic TrllBt 1 Bunk ft Trust 20 5 2 7 5i 1 Inl LI ft 8 290 305 Ki diridciidr (tIF.t-rlglilB. N. Y. Bank Stocks NATIONAL BANKS Bid. Alnerirn National 230 Amerienn Lnlon National 260 xHank I'nited Statea 205 tBank Yorktown Natl 260 Banker 0 Co 60 Bryant Park Nail 450 Broadway National 245 Cenlral National 208 Century National S20 CliHse Ntillnnal do new Issue 197 do rights 106 Chatham Phenis Natl 845 Chelsea Nailonal 1 07 Chemical National new 126 (Tareniont Natl new 112 Asked, 236 275 210 65 265 215 350 1090 201 I 10 855 112 129 122 770 85 44 214 3800 6800 310 1425 260 too 225 345 267 245 890 215 320 220 399 163 172 135 90 305 1070 175 315 152 310 67 325 255 260 240 O'a I I oniinerrial National 750 Community National 275 Continental Natl new 80 tlo riKhta 40 Corn Ks.Tiange National new.

209 Fifth Ave Natl 3500 First National ......6600 Fordham National 290 Grace, National 750 Marriman National 1375 (ndiiatrlal National 245 Intern Lnlon Nail Bank 90 Lebanon Nailonal I 1 1 nil 1 1 National Liberty National 335 263 Madison Sipinre National 220 unlit tlnn Nail 880 Merchant National 190 Melrose National 300 Midtown National 200 National (Tly Bank 394 Park National new 158 do riglita 22 renn Kicking! Natl 162 Port. Natl new 125 I'rl'co Riate National 630 roneiiiiai until B4 Public National 300 Reala.atd National 1 040 Seward National 170 Riith Avenue National 285 Rlerllng National 142 Slraua National 21i0 Testile 62 'trade National Bank 310 Washintlon Rtpiare Natl 245 World Kjehaiiae Nail 230 Yorkvllle National 25 TRUST COMPANIES Bui. Asked. Rank Commerce Italy 4i3' 430 Banco dl 8 new 86 89 do rigbla 9 101 l2'2 I 7 tiikinlirks IToldif Corpn I4i of Clnx A 19 Ilankslocka of M'lryland A I do Clasi do preferred Baiialcllia Corpn Baale In.liisiry Rlira 24 47k 24ti 9'l I l9'2 94 Brllish Type Invest 77 do new 20 It'a points. In the first iuuir the stock mild down to KMi'i.

I', fi. I. Bwiitij! from to finish at for a net gain of 4 and with l'a point 8 of the high price for (ho year. Bull) companies fill important roles in the eastern utility drama. The former by its stock holding and the bitter by its position in Pennsylvania.

wns ilrnnir 4 4 4 I'l 2 Rales. High. Low, 1700 2'l 7000 94 BV'l 5500 49 43 300 1 09 1 '2 109' 200 33 'I 500 24 '4 2414 56' a i so al Kd pf ii 52 1 2 i So Htooeiy A 200 351 2 351 821 2 jKo h- A ill II 62 Suiiliiliuid II')' 171 'Ro I'i'iiii Inl 22 Southern Pipe 300 1300 600 200 2000 181 18 63 52''2 2014 20 '4 4 3'4 65' i 62 '2 39i 2 39'2 2FI 4 1 Snail l.cn rr lt 2r.i 2 Sparks VI nil Hi 1600 Millll MUrr 26 Simiil Invent 36 JiiHiul 87 K'iI OH Imliniin 2'i, Hi'l O'l K'uifim "il k.v iii'W I''d oil ulilo 200 400 1700 70O a 1,4 38 37 '2 4 '4 3'1 56 Vi iiyt IC 19 200 2000 37'2 36'1 I 50 1 23 1 2 I '4 200 2b '4 25 'I 500 29 19 400 287l 28'2 900 20'1 300 281 2 28ia 7V'l ll I'r 2 73 '2 S'Hrrrt uipii 23'. 1 Mrm ft i 714 Sh-rn (jtMi-lira 4 I 7 1 hi 12 82'2 i-IH. 3800 3614 35 7'l SI TM ft I 68 iSHMtiil, 261 4 I Si on Motor 3iiSnin ft In 100 2612 26'2 800 30(1 30'l 400 16 l5'2 100 128' 1300 31 1 a 30? 1 400 201 2 20 400 46'4 '46 700 60'2 60 2 34 1 2 fiv if lull 24'U H.MI1 41 I imiirrt Cpn 't'HinpH Kir Co I Hlilllliyilsll on Ick llulirn Teii.ll II ft II 18 100 14 '1 I4tl I 1 0 1000 8'2 I 1,1 2 6n 100 19 1814 Tin rim.

ill 1000 29 'I 29 2 I 2 101 l. 2 do prelP'T' il I'ro A. 'I'll Slurrrll pf '1 lllly 'I0I1 ft AIM 81k. 1 IIIIIMilIlt rl. l'p 1'rnnn Airf 'lr 400 99 98'-'4 1000 58V 68V1 300 511,4 5a-4 500 66 6Ul 100 50 50 4200 I36''l I35V4 1400 28V4 27'l Trm, Oil pfil 1200 I 15 IriiitB I.

us I 1200 1314 13' Tmw-lrr T'rl C.mt ni .1.1 preferred Triples Suf III Trillin J'ork pf 'I'lllilM Silk 300 54 52 2200 31 30 SOO 10411 104 200 221 22' i 100 44-4 44 ti 80 400' a 386 hum S'd I.nmp 100 24'1 lo Cl.i.s A 1400 36'! 36-ti fill Amer 11 400 62' 2 52' 1 I nl ToliHrni 600 9'4 9'4 I nl Pry llks 1500 18 16' I nl Kl Rr nie 500 2 2 I nl tins l'd. 500 411i 41 I nl ChiIioii vie 500 65 65 do no rl wt 1200 I I'l 1 1, -a I nl Client i 300 100 100 do prior pf 100 431.1 43 I'm Css Co 1800 26 25 'l 60'4 17'? 4 20 14 26l 3 1 19' 2 3ia 3'4 '1 6 'l 2 23' 2 nl lis liul.vt .24400 1181.4 I 3 Inl I.I ft I'w A. 1 2900 37 35'2 4t.j 53 '4 44 21 49 do preferred 100 10414 1 04 1 do pref It Inl Milk Pro I Hi Plere I've I lit II Sue I'm Put. lie Srr 1 Koll It 8 Kmi Rei! no l-t pref 1' 8 Kreiallt ll.pMUIII 8 Itul.r 100 59 69 i 700 500 100 100 1200 600 100 I2C0 2100 II IO4 37 36'a 471 l8'4 I8'4 58' a 57' 53 51 1 1 89 1 a 89'2 I714 116 85(1 69 71 22 I7''a I7i2 I 3-4 19 I' 100 22 1 27-14 I Ship Lines wi 1400 17' a 1 7 '-4 I 'I 19 I l'l 231 2 9612 35 4 77-14 2IH-4 22 '4 4 2 I 4 271-8 2'4 2 50 221-1 23 6414 1 231 2 52' i't 41 '2 I nl Verde LU 2100 1'iiily lioift I 11 1 Avisilon 2100 600 I mil Metsh 100 I 1 1 1 P.v I.Kt wl. 24GO 24 lo t'tnss It I -100 100 47l 45'! 241i 24-ti ITllities Cpn nl.

Oil I'snip Milk pf Vnn Cinnii I'k n. do new psef Pell Mil till M'l! Co Wnlk-rern Iiriijj Wsl.on lolm 1'iiiep Wi'iitlen Copr West Air Kjpr nirl.is Co lie rls WWltilms II I' Willow ilo preferred Winter llenl Wnndll'V Pell Worth Co A el low Tsil V. Yukon Hold Zemin Itii.llo Zonlm Prod 1800 I 19 200 95 94 600 700 1600 300 200 300 500 23 22'2 2314 22i 4 3l! 68 6714 30 30 86' 6 83'4 84 7' 1 35iR 1 5 is 19 i 35 '-2 I'l 40' 6i4 100 21 21 700 300 600 300 100 200 1200 100 300 1800 100 too 100 300 100 I I'J 74ia 7 'a 3(2 5 30 21 i't 50 14 ti 72la 7'4 3 '-a 6 30 20 50 14 5'1 7 5Vi 101 22'! 23 7 34(1 34'! 11-16 1116 39'1 39 32' 2 3212 DOMESTIC BONDS Sales '11 Issue. $1000. nlah.

Iziw. Al.itiln PftP 5s '53 18 841 1 83' a A Itih Power 4' '67 6 91 2 90 All Puck 8s '39 tf I 4714 Alum I'o Am 5s '52 21 I00'4 lOO'l 1 6' 4 I5'2 7.i4 28' 2 29 10', a 38 lj Alum Llil 5s '48 6 974 Am Com Pw 6 49 31 Am 11 ft 5s 2028 Am Pr ft I.I 6s 2018 3 Am It Mills 5s '43 I Am Seiittni; 6s '36 10 99' 2 98'1 95 94(2 105 ,4 101 la 96' 1 92! 2 92 9l-'4 94! a 94 94 4 94 19 21 '2 lM 8'4 6144 31 45 Am Sol ft 6s ev tv I Apiml Pivr 5s '56- 5 Ark I'r ft Lt 5s '58 2 Asso ft Prl 6s '38 I 841 2 Asso l.ns 41 2s '48 I 125' 2 Asmi tins 4 'as 2 I07'l Asso Sim 6 2S '33 :8 86' a Allan Fruit 8s '49 2 I6'J Bales Vnlve 6s '52 I 103 '4 11.11 din 5s '55 A 3 100 Moll Cda 5s '57 5 101 Bell 1 'da 5s new 100 Host Me 6 '33. 2 101 I84 102 4 4 I 14 75(4 65 3 47 a 4 a 'a 71 4 414 99'4 da Xnt llv 7. '35 Cnli Ailniin 5s '53 A Cen Rla IT, 5' as '53 Cam I. 5a '56.

t'nro 1, 5s '56 do under rule Chi lly 5s rif '27 CHI Pn Tl 5' 2. '42 Cianr sir 6'2s '49 Cin Cur 5' 2. '52 A CIob. Issue. RIVaiRn Am (i ft 28 1 4 Southeast I'AI, Ot-a iln warrants d7'-l do preferred jlSO AMil'SlnS I 106' I 97H I 90 5 98'i 31 99 984 25 99'4 3 82 4 1 98-14 2 94ii 94(-'l I 94(2 32ia 4 8 rt.

JicKiK Pimer also linn company Jiolits a controlling stock I iiitii ripe 25l'2 I4O0 351 2 36 35 50 319 319 319 1500 8'2 500 III 109 I 10 interest fSortheasteni Tower, which) "'m inc in turn owns 11 per cent, of Hudson I'ower's Rfock. Northeastern! 1'ower is said to fit into the pnltern tnd Km .113 beinu woven by the Nnr interests nnd United Corporation, their) il A hnldiniv I. seller holding About One-half of Losses of Wednesday Recovered; Professionals Take Profits Railroads Are in Good De mand Throughout Session; New York Central Feature By BR0ADAN WALL (Registered 17. S. Patent Officl) NEW 10JIK, May 23.

Short cover-init forced stock pricei higher today. About half the loss Wednesdty was recovered as professionals took profits hectmse of doubt of what the Reserve Knnrd uoultl decide as to increasing rediscount rates. After the close it was announced that the Eeserve Hank here would keep the rate at 5 per cent. The nultlic was in practically all of the dealings and a -rood Dart of the turn over represented operations of floor traders. ginned i'M, motors Can 4 3-8 and other standard industrials benefited to an equal extent, American Tobacco trained over 5, Commercial Solvents 8, (urtiss over i ond Vli.C-trir- Auto.

Lite 3'Vi. Railroads were in good demand throughout, with Central in the lead with gain of 4'4- American Tower Light with other utilities moved higher, while the oils were benefited to the extent of over a point on the average. The improved tone of Anaconda bolstered ether coppers. Turnover dropped to under the level, while call money held at 6 per cent, throughout. Since the O'Fallon decision was handed down by tike Supreme Court there has been quiet accumulation I he better grade rails.

Utilities also have reflected similar demand, for it is felt they are benefited almost as much as the rails by that ruling. Leaders of the rail and utility world look upon the decision as removing any possibility of confiscatory practices by the Government. In the case of the good rails, the effect of sucli bcliet is enhanced by expectation that larger earnings will be shown now that there is no chance of recapture except on the basis of reproduction cost. Union Pacific, Central, Atchison and others in this class are called the "gold plated roads" due to the great amount of earnings plowed back into property during the past years when there was a chance of having part of the income taken up by the Govern- ment on the basis of the commerce commission's valuation based. on cost instead of replacement value.

"No announcement" word sent out from the Federal Reserve directors meeting was in ken to mean that the local bunk officials had voted to increase the rate to 6 per cent, and had submitted report of their action to the reserve board at Washington. Last week the Reserve Board did not let it be known that it had disapproved increase until Friday afternoon. The Hesene stalemenls showed no reason why the rate should be advanced. While loans were off only the ratio of the local bank was up to 84.4 per cent against 72.5 a year ago. The statements showed the Reserve has not abandoned its corrective campaign, however, for there was further reduction in Government security holdings and bills discounted.

Loan decrease was recorded entirely by banks here for their own account as lnnns "for others" or "bootleg loaus" increased $73,000,000. Practically all the buying in. the automobile shares was short covering, as even those market operators who are associated in the motor industry arc worried as to the eltect of the Reserve Hoard's activity on their inrltistrv. of it'TilW. compared wllh SJ05.8: la" April an Increase of more than lift Per 10 figures just announced By A.

Hatcher, president of the corporation. ST, I0UIS SAN TRANCISCO mi!) 1928 I 1.4.'.,":fJ 27.tt.vi. ikt 5.SIIII.IIS7 2.3-H).aR3 i 1.3;il.4ti4 26. April gross Net op Inc Rurp aft ehga 4 mos gross Vet op Inc Rurp aft eligs 0.4KI 1.406.0'JS company, N. Y.

Curb Market HV-limde f'ood 200 28 271 400 400 700 600 200 500 96'i 35 78 22' 4 2 1 1 4 271 a 2'4 18 50'i 23 65 231 a 62' 2 42 '4 Inn Sr liilereoiit Pet 8000 Inter I'erruniH 600 Intermit Pet, 400 tut Project pew. (500 Inter Shoe 800 Inter Hleeptr Csr. 100 Investor. Kipilly. 500 lilt I tilltie.

A 1300 do ITii 300 tlo 7'i- pf WW 50 do whitiiiiI 600 Irvuil Aix I'll 1300 lislv Sup Pr A 300 Kare.lH.il Kuir wl. 600 herr Lske Men 400 Ke.v.linie Alrer 1400 1 7' 2 17 95' 94 7" 35' I5ii 19 7' 36 I5il 19 35' 3.1' B6I4 35 771 2 1 1 271,, 2 I7'i 48' 64'4 531 62 41 STOCKS Iue. Co Ion. 2 40' Pecrcase. AMERICAN POWER LIGHT American Power ft Light Conililny report for twelve months ended alnren at.

1 nrofit of afler expensea. interest, etc. Amparing with 7.0IIS.IV, in corresponding iieriud of orecedlng Teur. NATIONAL AIR TRANSPORT t. -s v.ilnn.i 4t.

Triinsnort. li 1II2R. Bled With clmnire sh.iWS Ol'oflt of fi-iiisii eosta. deoreciai lHia, etc. imntiou of Federal taxes Is made In )Z7 net loss was Outstanding ttock amount to 4o9.1dtl no-par shares.

BERLAND SHOE STORES. INC. 1H2S Anrll 4 month UlU.M-i 7rj.is: No; Hifb. Low. Clo 8800 5'1 At 100 18 18 18 800 l3Ti 134 1344 300 38 38 38 1000 50 47' 1 60 500 1 7' a I 71 4 I 7 1 100 9 IS 9 16 9 16 6200 55 50i 6j 200 77i 75-V4 754 100 461-4 46 46 900 286I.J 283 2R5I'2 1100 154 148 150 100 39,1 391,1 600 32 31 31 100 48 48 400 f5 15 15 100 IB'l IB'l tan 600 I6l 16 16 2700 4714 461-4 41,4 6500 34 33U 34 1200 241k 24 24 1 1100 7'4 6'1 7'4 600 718 7 18 7-16 1700 43 4l'i 42'-n 4200 7' 7' 7'i 1100 16 I51 I5U 4400 82 77ii 8 1 I000 I54 I50 I54 25 234' it 232 234' i 700 4'2 45, 4'2 25 II7 II7 II7 I00 60''4 80 60 600 29 '-J 29 1 1 29' 2 53-1-4 154 65 lll II5-J 167 '2 20' 1 32'2 33' 1 4 20' 4 401 Kirlty Petrol 300 Klennerl.

Co K.ditter Brsndes hoppers li ft 0 )it l.nkey Kdry Lett IT ft Leonard Oil l.emer Stores Litil.y Me.Nell Llhliy Iheens llr 'I'ul'li I'iiji Lion ml Co Lit Bios Loews Ine wis Iiiidiut 'I'm rg Irf.lie Slsr (ijs ITiillips A do CIhms LoiiIIhiib LftK 1500 500 400 101 101 400 23 400 154 1 600 4'1 400 65 55 200 12 60 I69l'4 167 600 20'! 20' 600 33'1 500 20' 4 20' 200 6' I5'2 79'4 28' 2 29 10's 300 200 600 600 60Q 29 10 EXCHANGE BUFFET CORP. It la expected Exchange Buffet Corn net pr.lit for months ended April 3(1 will he about or 'i 1 sliare on 0.1O.OHI 39s I 2 MiiiMnrr Sirs wi 1400 Ryiulie 1700 Htrs tiref 400 101(2 101 MsmiiiiK Bow A. 300 19 21'! ID'S 8'4 6I.I4 31 45' a Mure lot 1 3500 Msre Wire Hr 3700 Miivis It. 1 Hint' 2000 Mnvfl A.ts 600 Mil ord Had 1400 46' 1 46' 26' 26' I46V4 154' 1 151 29H 31 Mel.ellen Sirs An 400 Memphis (in. 2300 IB'l 18 981,4 S8'4 Mer.siilile SI'S 500 Ifi2 102 7 Mernt ('A- Mewnlil Iron Melron Clin htrs.

POO 300 200 28' -a 271 92 I 4 75(4 66 3(1 47 4 71 'a 41-1-4 331-4 331,4 15 SI Imp 6e 50e pref "4 40' 2 Mpx nil rti 1700 42'-2 2' 2 714 8'i 7 43 Miller I. Rous 400 2i4 7i 8'4 Mill Co of I 'rln MninesoiB Heir. Mum Mo Pr wi. Minn Mol ry pf. Mork Hudson do preferred do 2d pref Mo Kbiis Pipe do rislil.

I Motion West Pent! 400 200 1200 300 101-14 1 0 1 800 36'a 36' 500 60' a 69 50 I06'a 106(2 25 105 105 68 '4 48 '4 36 2 1 2n 64 900 32ik 800 'a 71,2 10 50 24 1 24' 6' I5'2 78'4 38 I 19 21 9l'4 7ll Mil 29 45 I 1 75(4 65 3 47 4 71 4 1 1 3ia 716 wtiereaa lnx the eorrespnnrltn-t mouth, the acitrei-Bte output wns IMtVit ,2 kUowatt hours. Engineer and Mining Journal r.nnrt. siness in non-ferron runs ceedins'y quiet during the prist Willi pticfis itir mc major iipoj, Antimony was ensier snips of copper continue to he mad, custom smelters at 18 cents delivered Connecticut Valley Foreign business in coppr is quiet to the delay in settling the renrnI question. Charles E. Mitchell, chairman tk, National City Hank, and Chnrles Fisher, of Detroit, have beer, ehrtil directors of Anaconda Mining com pany.

succeedinr A. II. SU'lia George H. Church. tni New Era Motors, has be formed with a capitalization of s.

000,000 to manufacture the first front "HI UL.C nitltUIHIlllte tO til built in this country. The car ig to h. I 09 known as the Ruxton. The is headed by A. M.

Andrews, a faj, tor of the Happ Motor Car Corpora, tion and 8 substantial stockholder the E. W. Budd Manufacturing CW pany and the Budd Wheel Company, The Union Carbide Carbon r. poration, through a subsidiary, ha, quired all tie outstanding capital of the Merakor Smelting Company which owns and operates mir hydro-electric power stations ia ths Trondjhara district of Norway. The American Locomotive Company has received orders for ten Milimji, type locomotives from the Indianapolis and Louisville ItailriiaY An order for one locomotive has hern placed by the Calumet and Ilucla Con.

solidatcd Mining Company. The New York, Chicago and St Ixiuis Railroad has placed unlers fn .100 box cars with the Standard Steel Cur Company and gondola rr, from the American Car and Foundry Company. Charles E. Denney, operating yiCa president of the Erie Kaiirnad. is tj.

pected to succeed J. J. Hornet. Electric Household Utilities Com. patty directors ami officer were re-elected at the annual meeting.

Stockholders of the American Tela, graph ('able Company have am nor-ized directors to extend for fifty years the charter under which it began operations half a century sgo, and which would expire June I'i, Property of the company is operated under lease by the Western Telegraph Company, which nlsn owns 22.000 of the 110.000 outstanding, shares of the company. The Borden' Company has, acquire the Tcrrr) Haute I' ure Milk mid lee Crem Company in exchange for (SotH) shares of Borden Company stock, Stockholders of By-Products Coke voted to increase authorized enpitalj. ration to 800,000 from 200.000 sliaw, to provide lor 300 per cent, stoik dividend to be pnid to stock holders of record June' 15. C. t).

Caldwell, presi-deur, said this split-up was made with the idea that nlj stock was ready for a $4 basis. It. bus been paying 3 annually. split-up will result in better distribution, especially to employees, he said. Plums are operating at 1(H) per cent, and outlook is gmul.

The Coffee Market NEW VOKK. May 23 (A. I' I fntnrea were rather irrecular tislnv. Imt showed a fairly steady utoiennne in symim. thy with Braill, No.

7 eonlrflct opened ft points liicher 1 points lower and closed net point to 5 poiuta lower. Sail's est imaled, '-on, Santo contracts opened points loner te points and dosed net fi tsnnis lo'vsf to 7 poitits higher. Rales. 3UHHI Closing qnoliitions: No 7 conliaeisi Vsr, 18.111c: l.tioc: Rent. 1 2fi, lice.

13.IIB. 13.ssr: Msr. li. ix Msy IlliaOL Rnntos contracts: lsv. 21ilc: Scpl.

20.IIHc; per. Jin, l.73e: Mnreh. IBSily. Spot. Coee dull.

Bio 7l lAje 17.0e; Rate, tna 4a 23'tc lo Co-t and IrctKlii ef-fers Bourlaip and as al 21 Sue to 22 THE LEHIGH COAT, AND NAVIGATION COMPANY Phl'ldclphu. April 24. 1S2B Ilisideud No. 2o2. The Bord of Managers this day declared 1 quarterly dividend of TWO I' Kit CKNT.

tRl.OSI per sharei on the Capital Stuck of the Company, parslde Msy 31. toSie-k-holders aa regimered on tlie hooks of th Company at 3iat o'clock P. Annl I1I2U. I'heiks will he mailed la Stocklnclurl who liavsi filed permanent dividend orders. HKMtV H.

PF.ASK Srri.isir. READING COMPANY General (mice. Beading TenrilMt. Philadclphl. 21, Notlct fs hereby given that the snn.isl election of stockholder of Reading ComtiS'iy to elect B'ne Director will take piicr i Boom No.

423 Beading Terminal. Iwrlftk and Uarkef atreets. in tti City of Philadelphia, on Tuesday. June 4. 111211.

at elevea o'clock A. M. IKaslern Standard Time). By order of the Board of liirecfors. -i JAY V.

Secretary. sPj.MAiy.1!!.65,.,-, SPECIAL MEETING GERM TUL'S'l' COMPASt CheLm nnd Germaotowa Philldelpbil. I's, April 12. Notice 1b hereby given that pursuant resolution of the Board of Directors a Special Meeting of the Stockholder! of the German-town Trust Company will be held at the mil office of tin company it the ibove aildre-B, on Tbursdiy. June 13th.

at 3 o'flo'k P. M. Standard Time 14 o'clock P. M. If light-Ravins' Time), for the purpose of arprcs-ing or disapproving proposed change in par value of the capital atoek of the company by reducing- the same from Slfln "1 slur lo IIO.iiO per share and of voting or against an increase of the cloiial stork of said Company from to l.4.oJ1 by the Issue of 28.000 addltlcnst shares tock of the par value of Ten Dollars each and for tnnsaclion of such other husl-nesB is fnuy properly coma befuri lie niect" ing.

By order of tin Board of Directors. AMF.3 A. KKI.L. Secretary. NOTICE OF SPECIAL MEETING To Rtockholilers of the Northern Cenlrll irust or Chiladelptiia Notice la hereby glveo that, pursuant to reaolnlion of tin Board of Directors adopted April 1(, medal meeting of (M Stisgkholdets of the Northern Central Trust Phllarielphi has been called tl be held it (he criminal oilire of the Com-banv.

louthwest corner of Broad and venue, on tin; 21t day tt June. l. C-t 8 P. 11. (Davllght Siivinc Timel 1.

Aptirove or disnptirove of a resolution th BousI of Director proposing a rediictie in the irtir vlue of tlie cepital stock of tli Company from Fifty. Dollar Per sliar to Ten Hollars pet biire: 2. Approve or dlsatiprove of reaolntton thl Board of Director proposing an increase In the capltR stock of the 70IJ.IIO.(10 to $1. Oil). notion, slid Increase 11 eonlsl of Su.non Bliarc of tin nir vlu Dollar" each.

RICHABD 4 Seerelsrv. FINANCIAL SINKING FI'MI K'OTiri! TO TUB HOl-DKItS OF FIKRT CRTs'! A fir" 8 CKHT RINK1NC. OI.I HON IIS OF K.AVr'N Kt.N "At IIL'R M.MJAKV I. 1W. ridellty-Phllntfelphin Company ceasoy to 'J'rust Company).

Trns'e under tin mortgage of Haven Knn Wai dated January 1. in accordance yiiili the prosisioo of Arltcle It of aid mortgage, hereby process for the Sale 10 said Trustee it a Price exceeding ul'J'y per ey-tit of ptar and Interest to dale of prcsentsitloii. Hhich not be lat.r lliim June of dent nutats-r of bonda issued under tlie mortgage to take up -the sum of $.11.24. represenllng the linking fund psyineiit mf" by the CoiPnT urtTvlded for in Hi mnrtaage. All proposal! for thl sale of 0" "i hoiiu ahull cover ny or all bonds and ahull M.

atlilressell ti tlie smd Trusi'S Its office and must' be In the M''''" li said Trustee on ot before June 0. 13 o'clock noon, at wdrteh time the Droposnla yrtll tie oiietitsl and flcled uli'iii; I FIUKI.IJ 1-11111, AliKl.l'HIA COMPANV, Trustee. HEN'Rt li IIIIEN'GLB Presiilnt. Philadelphia. Mny 14.

-AUTO LOANS 1 Up to $1500 Cash at Once, Car Remain! In Your Possession Strictly Confidential No Investigation Bankers' Auto Finance CoJ S. E. Cor. Bro.d Spring Cui'" POPLAR 6428 ahiirea. In rear ended April nil.

111-0, prutit was il.ll.iHS. or ii.i.i 1 auarv. LEHIGH VALLEY RAILROAD lei.iii. v.llev ltallroad Company net In come for quarter ended March 1U is equal after preferred dlvidemla to iz cenrs share on 1.L'llt.034 coininon sliaiei, igainst net loss In first Ultarler CHICAGO ft ALTON Sr.rll gross S2.aHUB.Hrt I Net oner, incime 1R4.IIU Four montlis' grosl 9.2."5.:ml Net nter. ir.eome 1.

WLUio ritil.5i."i NATIONAL AIR TRANSPORT The National Atr Trinstmrt Company made profit last Tear of go, 4 after costs. deprecialion, etc. against a net losa of in Hl-7. Figure for last year, however, made no otentioo of Federal tttxe. LACK, ft WESTERN R.

R. 11128 April gross JBItwiSfll oper. Income 1.7ri.3.723 Four months' ros .28. 2.. 31...

2411 Net oper. income 6.US8.K23 4.126.41(1 SOUTHERN PACIFIO 1U2S I22.K77..1U4 April gros 4.RM..VII P.7,.V,1.71fl 18.1M.U4T oner Income a.tr.'s.Tm Four months' gross Net oper. income THE OIL MARKET OIL CJIIT. Mar 23 (A PI Credit hal. ance Huns 42.402: reraco ritna 4.ltM.

Shipment 73. 587. Average shipment (H.lill, COTTON MARKETS "rout Ta Inquirer Bureau. NEW YORK, May There were enrlv diH-llles In ilie cotton mar. ket today on lomewhat WClor' syea.her re.

ports, bin prices rallied liter in ties session on net 4 101 '4 2 36(2 '2 60 IO6I2 105 nana roirona trust Hank of New Yoik ft 950 965 Banker Natl ft Tr new 166 170 Bronx County Trust 540 570 Central tliiuover Trust 413 420 County Trust Co 560 580 Kmplre Trust Co 658 668 Equitable Trust 686 692 Fanners tjind ft Trust ....1935 I960 Fidelity Trust Co new 225 240 Fulton Trust Co 850 960 Guaranty Trust .....1050 1060 Hibernian Trust 340 350 Interstate Trust 385 395 Intern Germanic Trust 225 235 Irving Trust new 741 75' Lawyers Truat ft Guaranty 402 412 Manufacturer Trust 292 296 Murray Hill Trust 305 315 New Vnrk Trust new 287 292 New York ft 72 74 Plasa 'Trust Co 198 205 Rt ft Ul Trust 260 270 Time Square Trust 192 202 Title Guarantee new 191 96 Trust Co North Amer 300 8 Mortgage ft 770 800 8 Trust 4300 4700 fx) One llinre Bnk United Rtatea new and one ehnre Bank Lnited States Corporation. I) Ei-dlvldend. It) Ex-richls. 1 lln'ver, if credit -conditions and tlie m.i., 9R'l 98 '4 94Vk 3 88i 2 gg ggl- I 90 10 95 9414 95 10 9414 94 94 10 99' 2 3 86I4 86ik 86la 6 94 I 97 5 97 9634 97 1 95 2 78 8 98il 2 74 2 80 5 99' '4 4 89ii 89 Ca 89(4 I I 92 I 94 8 94 93'-'4 93'4 9 89ik- 88(4 88' 1 I 97'2 20 94'! 2t Rrooklyn Cnpilnl Ine 23 24 ('aiiiidn Bankslock Ine 25 27 Capital Management Corpn 45 Cenlral Natl Corpn A 61 6.6 do Clasa 30 34 Coiilnr.v Shares 661 69'4 Chain Rlorea Invest 80 65 do preferred ............160 do new I 6ia I71 Chartered Invest nulls ......630 540 Chelsea KschaiiKe Corpn A 42 46 tin Class II 42 46 Cliiremottt Invest Corpn 171a 18(2 do preferred 15 20 Cnmh Tr Rharea Rid Oil Grp. 12' 13" Community Rtntei Corpn A l(-4 1314 do (Tnai 121 Conll Am Banksliarea 18' 2 201 Conliiientiit Reeurlllea 96 tOO L'rnm ft forster lusur ShrB ..107 112 do preferred ......101 I03V2 do 8 preferred II! 115 riepoa Bank Shu aer B-l I6V4 17' Rerurltlea A 25' 26M do aerlea 22' a 23! Domestle ft Fan Rec Cor pref 7(2 10 do 2d preferred 30 32' rioiiieslle ft llveraeat Invest 12 13(4 Iiomliiion IIi'IiIl- A 9 10 Kast.rn Bunker com 25 do unit .....145 151 Electric Pnevr Assoc Ine 31 1 1 3'4 Kipiitalile ins" Corpn unlll 33a 352 do Class la 6I2 Fin Corpn A 20 2b do Class 8 Flderal Capital Corfu 65 69 do units new 55 581 Financial Invest Cpn 253 27m4 Fiist Inr A ft partg 44 49 Filed rust.

Rharea 22 22-H Fo tatlon Rec Corpn 10' 12 Franklin Banc Rharea 10' 2 13 Herman Credit ft luv 251,, 20 21 Globe Financial Corpn 17 19 do preferred 38 44 Oancer 'J'radma; Corpn 31 34 Giiatdtiin Invest fl'onul 28 do eonv preferred 28 do preferred 26 28 Harvard Financial Corpn 60 62 Incorporated Kuultlea 48 50 IncoriMirated lnveatora 63' 66 Iiisiiransharel aeries A '27 26! 28'4 do aeries '28 22 23i-2 do aerlei Ci '27 2734 29'4 tlo aeries '27 31 323-4 do '27 25 2612 Inter Sec Co of Amur 69 62 do allot i-tfa ......1481 15412 Inter Ree of Am 31 35 do 6'i preferred 891 931 do preferred 93 98 Invest Co of Amertel 44 50 do preferred 95 100 Invest Trust Assn 50 55 Invest Trust Rliarea 18' 20 Invest Trust of York 121-1 12' Jiu-kson ft Curt 8 0 A 250 do 6 preferred ........100 Jackson Invest Asbd 61 63 Joint Investors A 51 54 do cony preferred ........107 108 Keystone Invest Corpn 12 14 Lebanon Fin lloldir of Am 12 16 Manhattan Fiu Corpn 4' 5f2 Massachusetts Investor! 5034 53'2 Metnl ft Mlelni Rlisrei 20- 23 do mil's 725-1 R0'2 Mrtropolilan Banc Rhares l2'a 15 Mohawk lnv Corpn ...1 32' a 135 Mutual Inreat Truat 121 13', Nassau Manai Corpn 52 54 Nut! Investment SlirB Inc unlll. 45 47 Short derm Rociir II 12 do units I2 I I 6 ft Mn Ltd unit 70 77 Normandie Nat Sec Corpn Ill 131 do preferred 54 66 Vorlh Amer 1 mat Rliarei 10 101 nil Sharei units 661 721-2 Overseas Reeurltiel 62 65 rariflc Investing 32 36 do preferred 81 Pet ft Tradml Corpn A 30 33 Power ft Llilit Seciiritiei 65 67 PriBeo investing Corpn 25 27 Provident Trust Rliurel 25', 27 Railway Equine Corpn 20 do 6S preferred 90 100 Railway ft I.iiilit Reenrltiel 751 771 KeliBti'-e ManaKcment 32 33 Republic Inveat Corpn 18 22 Uesearrh Invest Corpn 39 43 do preferred units 72 80 Reynolds Invest new 38 40 do pref ex wrla 77 82 Second Int Rec 6i pref 44 47 do common A 511 541 do Class 22 25 Sham in the R0111I1 423 451 8011th Bond ft Rlinri A 28 34 do preferred 47 50 Routliern Natl Corpn 1 25 Rperialired Rharea unit! 65 70 Standard Col Trust Stirs 1514 16-1-4 Standard Holding Corpn 28 30 Sianilar.l Investing 371 381 do pref 99 102 Slandar.1 Oil Trust Rlirl 12 12V Stale Banker Flnrl 18 21 Striina Inveat II 13 do units 52 54 Rtuvvesant Bd ft Shr tlliltB ..98 Trustee Standard Oil Sim 14 1434 I'tiion Fin of Amer A 22 25 I'nited Capital A units 68 do nuns 67 70 Pulled Founders Corpn 35( 37'4 I'ni Inr Assr Rys II 141 i-2 144(2 do Founder! share 1 84-4 20 0 8 ft 1 Ltd A 34 37 do Clsa 1414 do preferred 4l'2 44 (-'2 t' Flee Lk't ft I'wr Shri 41' 43(2 8 Bank Rtork C-l 36' do ieriea C-2 37 la aeries 3 3I 351 PR Shra Can Rd Tr 1 8(2 8 Bank Rtork A l4'-2 do aeries A-l 13 f'i 15 Ins Rlk Tr sf 22 25' Key lnd Tr aerlea 1 3n 143,4 Web Holding Corpn 25 28 26Vai 23 23 4 68 30 80ii 6 21 I 12 74a 7' 4 3(2 5 30 2 1 Vt GO 14 5' 7 34' 11-16 39 32 1 '2 Last sale, 84 90 100(1 99'; 94 V4 105(4 92 94('2 94 99i'4 9644 7 1 ''a 95 99 1 2 BONDS 7 16 it Sen- 5s '66 ITf Ser tins 5' 2a '42 fit I. 6s '43 it R.r 5' 2s '52 I (is 41 is '69 Con (1 ft Kl 5s 58 font llil S'as '37 Ciiluiiia Cpn 6s Cuihihv Pk 5' as '37 llela Kl Pr 5' 2S '59 IH-IIV Luke 6s '60 1 Cr (ins 5s '50 Met till Bill 7 '52 Pit Oil Css 6s '37 A Kl Paso Nli 6 1 '21 '43 Ktnp lift It 5'2s '42 Kiiirlika 5s '4 2 Kire Mills 5s '48 Kire ft II 5s '42 I'isk Kuhr 512a '31 Kla Pr ft Lt 5a '54 liiirlock Pktt 6s '39 24' 2 31 22 64 70 5 25'2 28 38' 37(1 10 32 25 26 35'1 28 41 20 23'i I8i2 IB' 2 23' .19 77 Hi 25 79 Cittineiui pwr 6s '41 5 lien lnd Al 6' 2S '44 2 tien Lniln 6' 2s '37 I lien Vend 6s '37 9 lla Crn II 5s '59 3 lieoiuia Pur 5s '67 3 (Inl Trk lie 6' 2s '36 5 Uiilf till Pa 6s '37 3 (lillf llil Pa 5s -47 3 97 1031 99 73 98' 'a 9514 107 861-4 711 95 DOI 99H 9914 9912 94 83 42 371k' (Jiilf sia I't 5s A '58 5 18(4 Houston 6s '43 A 10 58 I Houston 6' 2S '43 5 57 I IIP r-ftl, 5' 2s '54 I 99'1 a unit Hie mohile industry there will be almost immediate reflection in the steel and railroad fields. It is because of this leenng mat the highly favorable re ports from steel centres fail to in fluencc any new demand. This week's reports showed that production was proceeding at a record rate in prae- 1111111 every sceci centre.

There is a feeling that the oil eroun will give some stimulus to dealings over bunking world indicates that leaders of independent companies operating in the mid-continent have been discussing merger plans. It will be several weeks before any definite development is likely, it is staled, but before the end of summer there are bound to be gome closer associations formed. Another bullish factor is the change in price trend, as it is believed that the advance in price of mid-continent crude will be followed in other fields and that irnoe ooving aim stiecial i i. factor was emphaBlsed In OinneAdlmn with the ncxt tew. weeks.

ltumor in the .62 .32 1.36 .12 .18 35 .04 .30 .18 .26 .05 1.32 .33 .06 '2 .08 .20 .01 1.50 .0 1 -i'4 demsnd. hut It appeared as lire (tecllne to attgittiy heiow rur the. neve Hop positions hd attracted some hnvHii and tfiere wsa talk of i firm technical nsisitusn. Moreover, weather conditions In the aUliwet did not seem to be altogether settled aiid BBirertainty aa to develotuiienta here uhe. week-end probably cnnlriliiiled to the rallies.

Alter Belling off to 1N.4.C tinder earlv offering, or lft poinla net lower, rallied to IN. title and closed at. 18. nor. whit the iri market closing firm, net 1 polut lower to 7 points higher, Th.e rangy of prlcea: Montha.

Open. Ilicll. T.ow Close W'nrt's -May 111.3.1 .111.4.1 111.44 19.45 HIT is. ttj 1H.4T is.ur, Hi t. Iold I Oct.

(new) jSSl Ssw Alax Amity Amulet, Area Arno Alberta Baldwin Biiny Hathurat Bidgood Canau Calle Capital Chaput (Terlcy- t'olumhu 1 onlagas Crown Corona istioleven hicher oiintnl inns will ha nnsisH AeniiKtic Prod Aetna Kuhlier Arm hup I Aelo inlerwrt Alnnwnilh MfB Alentider I ml Allied 1'iirkln Allied I'r Lt. do I ef Ali.lii Purl Ltn. Alunin Amer Alunin Ltd Allium Indnvt llle AI1111111 l.ondi iltg Am llBkllli- A Am llevernye Am llr Hov Kd. Am T4rlttt.lt tlintr Am it l'il, dO I 14KH Am Coitilth t'r A do Am rontrol Oil. Am Cyniia new do rifiliti Am link ft; Klec.

Am Lt ft. Am Miiritrmlio Am Meier (o Am l'lientx I'liiti. Am 801 ft (hem. do prl pref Am St 1' Sr A. 500 4'l 100 26' 1 Am Sup I'nr A.

4500 I54'i Ho lls 700 151 I 1I0 new .38500 31 1 2 llo Int. pre! 100 98 4 do rntltu do pref 1 500 AniHtr 'Imdit tOO Aimlo Am ull 700 Analo Hole N1I1-. 400 ArituilH Tube. 1900 Argn nil (o 500 Ark lit- l.ii 7300 do preferred 700 do Cllst A Kl 5200 Artimtr Cork 500 Auuw HAH Kle. 200 Aft Mel.il Wki.

200 Asiioc Elec 13800 Aiihoc lia A leu 3800 do deli righti 5700 Assoc Lnundiieii 100 Asne Bjyon tiref 200 All ft KlNherlel 100 811 92 33V4 15 401.2 44 2'l 7M 8' 4 7 '-4 70 48 '4 37 1 3 "1 55 74 10 66 69 AH fruit In 200 100 200 100 600 I Atlis Ply (' AIImi Port em Auto Votg Mm-lt, do evt llref 54'1 45'l 10 20' 66' 2 46'1 2011 11 88-14 4U 50V4 421.4 84 3B 4 6IU 5 Avmtiun Cnrpii 300 18700 tlo new I Bast BlritfliiB 400 Bellmien Alri'f 500 Ben liedk-es 600 Bemlis Am lor. 18600 Belli Sleol 1500 Bin liners orp Bll ft (o Bliimentli Hid Borne Servmser Pnixll ft BniU'iil Mh'Ii 100 800 100 50 200 400 BriiiRS ft SIlHItou 1300 Krlulit Slr Kl 1600 Brillo MfK 600 Bntieli eliiiicHe 3400 ilkn Cily It 200 do tf ileb 300 Browo KW A. 200 Buff Nil 3500 do (Thks A 2000 do prlferreil 300 Bulovi Wt 300 Bur Cor rein 12200 34' 2 I74 I9'2 to'2 77-1 74 28 60' 2 2611 48'1 4U BiuniUiiliH A Butler Brut. Cameo Co do preferred Chle vtc Ida Mnri'rtil flp A'lm Am la rib Kind Curimtlou Milk I Caieipil Tmi'tor lelnuei.e Cpn do 1st pref Cut All Cri.t 1'uli Srv A Cent. Si.

Kle do lnrferrei! do evt pref do tinder rule do pref v. r.nlrif Pipe in Slr 81 ks CNerker Cnli Mfj: Clieelno MfB CI Ci.hh Cities Servi-e 1900 63 28 25 8 36 3'1 35 ou 1000 1200 2100 6000 J00 1400 600 500 I 100 17 82'4 300 4 1 3O0 107 400 1 4 a ROO 45 1800 99' 2 200 I 1 6 3000 167 5 165 400 81 800 8(4 900 31 1700 64 100 165 1300 314 25800 28' 2 200 274 400 98la do seller 7 llo preferred fit Sr l'A-1, pt. Cnli Allium I't CoL'nte I'lilm 200 lOS'i 200 25' 2 3C0 67'l 400 9' a Colon in) in Colli (Ins Kh' rls. 14700 4'4 Coin Pl.t (Tin 300 3314 300 I' a 3C0 60' 2 80 246' a 400 I02'i Cnlotoliln Rmi Coin Kle l'vo Clin, Ith K.I I'w pfd iiitistock Tun 1400 Ha Conu Pr 1 2000 8i Ions Alreraft 1500 40 (our Copr 4400 I07l ('ns ITiiry Pro 200 31.4 Cons Film lnd 31100 Cons (il', P. lit 95 ens Im-trimiei't 1300 29' -1 Cons Lmmdr.v 2100 1 7' Cons Nv ilth loro 1 16 Cons Ret Sirs 200 28'2 Com I'm Fibre 500 34 '4 out (111 vte 2000 21 1-4 Coon ft Co 200 27 1 4 Cooper Besvplner 200 40' 2 do preferred 200 48 Copetiind Pro A.

200 15'! Creole Rmi 60np Ria Crenn lioM JOO 3.1 Crorker Whl 25 300 Cr ft Blk Pf ww rou ley Mlln Crown Cen Petl. Corliss Aero Curtt. wi Corliss Kly Rr Ciliti.s Held pf. jiirliy Petl Co Ine Imiis llrtii: ct L'eeeo Heeord 1'eere ft Co 200 200 600 200 700 2800 300 400 200 300 49'a 48 39'a I2'2 24'a 33is 15' 29 26 3 200 25 57414 lie Forest Bad .14600 1 31 4 l'l 8 37-1-4 3 1 'a I 40'i 51 do riKlita 19100 Derby Oil 300 do preferred 300 Poehler II (J 100 IHdoreB Ki-p 700 lloiif Aircraft 2500 rmhllier Coud 400 IHike Pwr Co 25 1715,1 Jittrnnr 500 II Knst Rts Pw 900 5514 Eisler Else wl 300 2412 Elee BAR 11 wi. 60200 95 do Preferred 200 1 06 1 '4 1 Elee Investors 4800 48'-'l I do preferred 200 98', TIJ.T 100 600 200 200 300 IO0 2O0 600 600 3800 700 300 200 42 1 Empire Pwr 65 214 24 18-1 17 4J4 1 1 Knara field Et'--r op trr.

F-Ttni Will XA I Fwj! Motors Fturitiiid Avia A 2C! 20 do rli'lits 2-1 11 Lead Fsit.Isrto Co Fm-Meel Prod Fed R'rew 518 334 1 1 65 1 146 92 39 68 48 36 1 54 10 66 69 15 10 20 65 46 85' 42 84 51 34 7 28 60 25' 61 I 36 17 80 105 13' 96 116 162 165 81 8 62 165 28' 27 98' I05 67' 33 245 IOITa I 38 10 38 23 95 28' I 28' 21 4fi 14 8 295 47i 24 32 I5i 20 3 561 121 34 3 I 391 I7i. 52 23i 91 06 136' 98' 4 1 53V 24 17 17 2' I I 65 2V4lnd (I ft II 6s '39 23 115 1131115 4 7 miller rule 10 I 1 5 23'allnd I'r 1,1 5s A 3 96-i4 before the end of July. Favorable is ii7 in is is lit js mates as to earnings 'continue to he .01 '2 Pr Ree 7s '57 18 I lot Secur 5s '47 1 7(2) Inta Stu Pw 5 57 22 Invest Co Am 5s '47 Home Ilunkln ti.sid (iold Graham Granada 8.75 .06 .0812 .03 .09 .22 "2 1 96 5 87 5 91' 5 97(2 10 78 4 92 '4 2 104 5 73i 2 96' 2 9 1031-4 1 9 I 2 5 91 6 I03l 5 94 2 98' 5 96 I 96' 3 99 4 99'1 9 98'4 5 100 5 8 1 I 140 1 too 2 9 1 14 2 100 10 14 .35 1.17 6.00 Grand Howey Holliuger Hill Keetey Kirkland Kirkld Kli-kiand KiMitenay Lowery Laval .3 1 .50 .95 .09 .14 4.70 .04 25.00 Lake Manitoba Mai-ass Malartic McDougall .401 .16 .4 I .47 17.00 Mclntyre 16 66 69 a Mot Meter li Ki 1700 Mountain Prod 400 Muiile, Rerviea 400 Nauh Rinf 700 Null An.llon 1700 Nail Bakeries 1000 Natl loin Cor 500 do pref 1 400 Nail Fain Rlrs 2500 do preferred 700 Nail KiiihI Co 300 do Class A 600 31 I 6-1 4 22' 64 70 30' a 16(2 I 54'1 54'! 45'1 4511 2 63 69 5 10 20 66' 2 1944 20 46'! 181 201 1 10' I0i 4 88ti 3'4 4 60-4 50-14 il 42-ii 84 3B'4 38' 4 41,4 5 5 26'a 25ti 29 28 38' 371a 37'i 37(1 10 10 32 31-14 25'1 25 26 24 35T1 35'4 28 28 41 41 201i 1911 23'a 23'a I 1 2 I82 I8I2 I8'2 23'a 23(1 19 19 4li 411 77 77 Ml Ha 25 25 79 79 Nail Kuel (las it 1 1 Slfir ft sirs. Natl Illil.r Nail Re Rerv Nail Simsr lief Null Sup. Null Tiiinsit Nail Toll Hdtie.

Nebi'l Co N'elli Corim Neptune Meter Neve llriii A Newberry Co do riahts New Ilavell Clock 800 1400 700 200 300 900 500 100 200 300 300 100 500 500 200 I614 J.9'4 To'i 7'l 751i 1 48'! 34 14 1744 I9 i 10' 11 7' 28 79'! 60' 1 25''! 48's 63 28 6 C4' I6'l 8 36 New Newniont Mm N' Invest Merelian Pit llovnl Ntsaarit Shares Nile. Bern rd Nlpissliu Mines Nohllt Stisrks lnd 400 2000 20214 I97' 500 42 4lj 41l 300 600 1800 200 100 100 IO0 3714 37ia I8I1 18(4 62 58 67 52 2t'- 2'i 2U 47i i 47 23'2 22U 1 Noma Klee N'orsiiila Milt Nor Am Avint do seller 7 Nor Am I't Ree Northeast Pwr Nor Sis Pwr A 3i 4000 ..24100 100 200 5111 bO'-i I Ri 18 17' 2 171 2 22' 2 21'a 3i 331,4 33(4 7 R2'4 ..23700 58' a 531 40'1 41 1400 165 163 107 Norl Invent hup; N'ovtid Aan pfd Ohio Press Ohio Copper Illiio Oil Co Oil Slocks A ilo class Ors I is Co Illllbd Mil Cp A do (Ts-s It Pno (1 ft Kl eld I'm- West Oil l'il He P.nideni (til Co Pillllet.ee Oil Co Piirkilld Klee Co Pinke Pirns Pni'lnel T'tmis WT I'sramt Csb ler II 11 Peun It ft A Penney ,1 (J do pref do rialils l'enil Illiio Kd do pr pref do warrants do warrants. 200 327 32'! 2 4'i 4b 99' a 116 167 165 81 8 100 125 4R0O 1500 600 200 2P0 400 200 200 1000 90 88' 85 85 I 7 a 69'l 16' 2 I6'2 24 I9i a 673.4 16 16 24 I94 13' 2 30'1 31 13' 64 26' 2 26'a 165 3'2 3'2 28' 2 i4 27. -4 a 98'. i 17 16(4 50 127 127 1600 200 200 300 200 700 2' 2 2'1 7 6'a 38' 2 38' 2 47 47 24' 2 241 2 30 29 62 62 2K 'a 2l'a 105' 2r)'2 25' 2 67' 91 9'! 100 100 4ia 41 33 I'i I 'a 60' 2 2-451 lOA 100 I 10' 2 I 10' 20 98' 1 98'i 20 203 1 99 800 77 67 10 tn2 1021 I SOO 53 42('i '2 8ia 40 10'a 3Cii4 23 100 24 2l(a Pennroiid vte wl .11 500 1'epperel Cpn 10 IVrr.vmsn Klee 1800 171(1 1 6-1 4 97' 2 20' a 27i 98 21 (a 28' 2 I'l I5! 27 95 Petl pn Is pf Philip Morris Pick Ruth pf Pierce 2200 5O0 2000 a 29' 4 I6'l 18 116 2 28' 2 3314 33'! '4 2H 15'! 100 26'2 201 i Pit Bowes npw 1300 Ptits Scr Holt 200 2 27' 4 27 Premier Pns' A lismh 100 1 1,4 27H 27 25 370 36714 -10'a dO'-a! I'ropper Silk 100 321! 321.1 48 Prudential Inv 36CO 10 200 2600 200 400 100 100 100 300 100 100 100 400 2600 200 100 100 25'1 25'4 1 4-1 4 ITmi't Sod pfd pyrene Mfz Ilsvliestiis Co Iliilnlniw A Keller Fosler Itelinnce H.VS wi.

H. 1 1 Candy ICepull Mil. ctft. llcviiolils Mel do preferred Hiclimoiui Itmi It Ire Sill Hiian Antelope Itocll Cent Pw Holls Itovi'l. rets.

Klrld HutilH'ioid Co 99' 2 99' 2 7-1-4 71-4 90' 2 88 31 30 8 1 11-16 I I 16 300 49''a 49'2 6 5''4 23 2 2 47 1 II4 l'4 39'2 3912 I2(a 1 2 1 2 24U '4 33 'a a I5' 291 29i8 26 3 23' 2 21 4 39 2 3814 68'1 67'. 10 10 20' a 20' 42 4 I'l 4l(a 40 'a I I '4 II (4 13(1 13 79i 2 79('2 7(2 7 561 13 l(a III 6'i 8 37-V4 I'l 3 1 I 40' 5(-a 64 Jlyati I'otisol 200 Rnf 11 ft Lt Safe Stat cod. St Ilek'ia Pap Salt Crk Coita Suit Crk Prod Rchlef ft Z11111I pf. Rcliulle Kst Reliulle United do 2d pref Rcovill Mfg Co Second A lnv. Reitierlln Se5al Lk Hd.

Select Indust do I sr pref 25 195 19414 200 28' 3400 150 300 3i 3' 4 1400 18 (4 I8' 4 1100 44 43'a 100 21 '2 201a 200 1212 12 200 70 70 50 63'4 631 600 28(1 2811 100 40 40 1500 l2' -2 10' 'a 2000 20'i 20'i 200 933 93' a I7IH. 10(4 10 14 55M 241; I 2 945-a 1.4 1 06 4 2 42'a 1 98'- 1-2 4 1 a 2 Pa a 4 Canadian Stocks High. ,62 32 1.51 .12 .21 4.40 .04 1 .30 .18 .26 .051, 1.35 .33 .061 .20 .01 '4 1.50 .01 li 9.75 .06 .083 .10 .22 .37 1.19 6 25 Low, .60 .31 1 33 .12 4.25 .04 .28 .18 .25 .05 1. 30 .33 .061 .08 .20 .01 1.50 .01 la 8.75 .06 .03 .20 .35 117 6 00 .311 .50 .0 1 1 .95 .09 .13 4.70 .04 24.80 .40 .16 .40 .47 17.00 4.10 .08 .59 .10 .25 52 00 .61 2 80 .60 .38 .04 .01 .40 1.70 1.15 .02 .05 B.75 .15 7.30 .70 .08 .16 8 50 .05 1.40 2.00 .21 8 55 .15 1.62 .13 12.00 .04 .951 .4512 02 1.50 4 Oil Co ilng Co ling Mng Co Mng Mng Co. Hoi linger Mng Mng Huiktngitani Mng.

Trethw Bouyn Hughes Mng Kirkld Mng Res Mng Minei Fish Mng Hill Bona Bouyn View Gold Cons Top Mng Rilver Hunt Lake I'rem Flor Co Quebec .51 .011 .95 .09 "a .14 4.70 ,04 2500 .43 .18 .411 .47 17.00 Rhore Basin Mng Mng Mng 52 2 Corpn Cda 4.30 Hll 09 Mines .60 Mng .10. rla .31 eg rights ..53.50 Mng Mng 2.82 Canada .60 Colony .38 Mug 04( Cobalt Mng. .19 Mug .02 Mine! .40 Deai I 02( Mug ....1.75 Mng 1.30 Mug .02 Men .05 Petrol 6 25 Antonio Mug 7.60 Mng .711 8 1 2 8 12 Mng .09 Anlhonr 20 Basin 8 60 Contact .05 Mng 1.50 Mng 2.07 Mng .21 Hughe! 8 75 lad 151 Oakea .03 Mug 1.80 Oil 13 Mng ..12 00 Cna .04 Mng .97 Mng .4614 Dome Gold. .03 Hnrgr 1.52 'a 58 Inr Am 5 '47 164141 Iowa Mi LAP 5s '57 llich IT 6s '41 90 I Kelvin cpn 6s '36 85 I Koppera CAP 5s '47 I 1 4 l.oliiyh I'nr 6s 2026 69' a I l.ll.ln- McNeil 5s '42 16-11 La I'r ft Lt 5s 16' 2 Mass tins 51 24 I Mel on! ll.i.l 6s 19' 2 I Mem 6s I 3' 2 1 net K.lis 41 2s 26 MT Ilss 41 2s '67. I Mont I 5s '51 I Morns Oi 7(2 '30.

17 127 2' 4 6'i NiirriiK 5s A '57. Null Pro 6s Nail Sr 5s '78. Null II Me 6' 2S '43 Neisner Bros 6s '48 New Km tiK 5s '47 I'ftI, 5s 381 2 47 2-ti 292.1 62 21 'a Nl' Pftl. 41 2S '67 23 Nor lnd 5s '66 I Nor Sis Pr 6' 2s '33 5 Nor 'let I til 7s '35 5 uliio iv Kd 5s '51 I Put iiK 5'2a '57 9 I'ae (HI 61 2B '43 10 I'armelee Tr 6s '44 25 Penn PAL 5s '53 2 I 10' 2 98'4 101 i--t 100' 97' 2 95'1 95'i 99(2 100 2021 4 75 10211 53 23 14 17 98' 2 21 'a 28' 2 l' Plnla Kle 5'2a '72 Phila Tr 6s '62 Pah Rll 6s Polom Kills 6s '48. Poto Kills 6s '56 do under rule Ons Bor 51.2a '57 Hell BAR 6s '44.

Hem Arms 5' 2s '35 Hichfd OU 6s '44. Kuril Ct Pr 5s '53. Kyerson (1 5s '43 2 10314 I 97 I 102 4 971 4 97-i I5 2612 21 981 2 27 I00U I'k 3 99i a 5 98 I 99 25 87 5 93 370 321 25 99' 2 86 86 91 91 97 97 1 92 92 721 721 102? 103 l03'4 l03'4 98 98' 99U 9914 8 1 1 811a 901-4 901'2 toil tofi 951 95-1 4 95'i 9514 1031 1033,4 9714 97 ''a 971,4 87(4 86(2 87 B41J 84 "2 811 91 4.20 .08 .60 .10 29 00 .69 80 .60 .38 .183 .01 12 .40 Mining Moffatt Moss Murphy Noranda do N'ewhec Nipisslng North Old Pawnee Pet Plcard Pioneer Potter Premier Qnemont Uilwgo Rohh So West San Slierrltt Risem 1 leeeni her March Spot is wi is 7 is 48 is ii.1 is 1M.MI, 18.SII 1S51 18. ski ls.73 .19.70 NEW ORLEANS, May 23 (A. COTTON futures closes, steadv it.

net advance, of 1 lo 7 points. January, 18.57 hid: March. 18 no: May. 18.82 to 83; IS H.1 to Oct. 18.411 to .57: llec.

18.55 to m. Spot, Bleady lo unchanged; good middling, 1 1128. LIVERPOOL, May 23 (A. COTTON spot In fair demand: prlcea lower-American middling fair. 11.

strict good mi. Idling, lli.lii: rood middling. lu.Rl alrict middling, lli middling. 111.11 :4 strict low middling. ll.Sli: low middling.

BTiH: strict good ordinary. good ordinary. 8.78. Kales. 4iai(i pales, including.

37IH1 American. Be reipts. WKjO. American. (itWO.

Future closed ituiet. 12.80 510 Opening I'. XL P.M. Close U.R7 B.sfl U.R6 II 8.1 Mae June July August Repiember October November tleeember January Kebrua ry March April May R.7U 8.78 8.73 0.72 P.70 8.71 I). 70 8.7(1 8.89 :72 8.72 ''77 0.73 70 Am.

Superpower Largest Owner of Holding Co. Continued From Page 25 vice either directly or at wholesale in S08 communities including practically the entire Stale of Alabama, North western Honda, Kasfern Mississippi, "southeastern South Carolina and the greater part of (leorgia. The installed electric generating ca pnciiy owned and leased is over 1.200. 000 k. v.

a. and there are over electric customers directly served. The annual output exceeds (HHI kilowatt hours. The largest operating companies of the system are Alabama Power Co. and (leorcin Pass.

Co. Earnings of the Penn. Ohio Company System for the April 30, PJ29 were $28,370,673. The principal operating companies of the system are Pennsylvania-Ohio Power Light operating in the Youngs-town, Ohio district, the Northern Ohio Power Light operating in Akron. Ohio, and vicinity and Pennsyl-vnnia Power operating in Western i ennsvivnnis.

The installed electric generating ra-pneity of the system exceeds 330,000 horsepower and electric service is supplied to over 171.000 customers in 1W2 communities. The annual electric out" put now exceeds l.OOO.OOO.OtKI kiln-nii hours. hi, I fist! it an 8.7111 74! received from those assncintert with such companies is Skelly, Sinclair, I'an-Americnn and otlfers. Sterling and other European monies dropped lower due entirely to the disturbed money conditions here. Cotton rallied after early weakness.

Wheat declined fractionally, but other grains benefited from covering. NOTES OF THE STREET Baldwin- Locomotive Works received order from the 'HoyI State Railways or fvtiim for six l'ndhc type locomotives. Hmnsximately jnj.OOO. be shipped within ncit three A f.P80'31 meeting of stockholders of r.igntn ntitinat tsnnk will be held on July to vote on a proposed change 111 capital stock to shares of $10 par value from 2750 shares of $100 par. Frederick Beers has been iected president and a director, of National Riscuit Company, succeeding R.

Tomlinson, who becomes chairman of board. Matthew C. Brush hat been eleotsd a director of I'nited Stales-Industrial rtieonni, taking place ot viuy Cary, ve-signed. Total loaded cars handled by th Pennsylvania Railroad System for the vteea enuea may jwjji, were which compares with 5 72,3.18 In the preceding week, with corresponding week of Plk'S, with l(ifi 823 in 1027 and with 173,377 in For the neriod from 1 iu IS. lOl'O, loaded cars handled totaled which compares with in corresponding period of increase per cent; with in V.VSi.

decrease 8 per and with in 1U20, decrease 3.7 per Cent. In Mr. Bernet's application to Inter-, state Commerce Commission Del-ti. if I permission to become president atid tl us v.rsUpc,,K sjdio. HOCking ullev and Pere Marnnetio k.

ettiiru he would resign as president and direc-tor of the Erie Railroad on Mo 01 ....1 that he would be elected president ofj l'ete Mnrquette. 1 An Increase of 33 per oent. In ths' power output of Northeastern Tower Corporation is revealed the produo-: Hon figures for the first, four months' of the year. Ihe output fnr the period i January 1 to April 30 totaled 5 8414 4 85 5 79 4 9114 I 90 1 107 2 99(i I 90 3 96 Bid. Asked.

Al-T Hamilton Inr '41 931 95 Am British Contl 5s '53 88 90 Capital Management 5s '39 ..109 114 Finiltlclal Invest 5s '40 93 do 5s 1930 97 Oversea Rec 6s '48 93 96 do 6s '47 100 103 Reliance Management 5a '54 92 100 Rnutli Ntl Cor 6s '44 ..100 102 South Natl Cor 6s A xw 92' 94 1 Rid Investing 5s '37 901 821 1.70 1.25 .02 .05 25 .15 7.35 .70 .08 .16 50 .05 50 07 .21 55 .15 1.70 .13 00 .04 .96 .461 .03 1.50 1.65 4 45 2.15 48 75 1.45 .0 1 1 4.16 71 St Loins lias 5. '47 90' a I 6s 35 xw 30 6 23 2 Servel Cor 5s Shaw '67 Slier Wy (T 6s '47 Silica llel 6' 2S '52 Sloss Slieff 6 '29 Snider i'ktf 6s '32. Solvny Am I ne 38 (4 68 10 20' a So ITU Kd 5s '51. 10 100' 2 1001 So Cat Kd 5s '62. 100' i 100 41 '1 4Qi So Cnl Csa 5s '37 6s '25 50 Pairles 6s '30.

S'west (iK 5s A '57 s'west Pftl, 6s '22 51 11 ley Met 6s '42. Sid Pftl, 6 Sun Msid 6r2s '42 921 92 I02i! 1021,1 971 a 95' 1 100 98' 97 I 1 14 13 79'2 7 195 29 51 Sun Oil 5'2s '39. Swift Co 5s '32 Texas Pftl, 5, '66. herinoid 6s '34 Cnl LAI! 5'2s '52. I'ni LftR 6s to too 6 9914 99( 1 961 2 98i a 971 5 90 2 99 1001 100 (l-Ex-divldend.

92' 4 1023 BANK OF ENGLAND LONDON, May 23 (A.P.I.-The statement of the Bank of England following cliangea: Total reaerve Increased weekly shows the 1 ,333.000 Circulation decreased 447.000 Bullion increased 886.000 Other securities 298.000 Public deposits tm-rpaaed 6,009,000 Stadacnna Rt Sudbury Siidhurv Rylvanlte Rlerling Tash.ila Te. Th.ima Tough T'owagmac Petrol Treadwell Vacuum Vipoiid lAainwcl! West Wrlaht Wind Fall 04 0314 UNLISTED STOCKS Abana Mng 1.70 1.60 Assoc Oil 4.50 4. 15 Bailee Mng 2 55 2.15 Brit Am Oil ...48 75 48.75 Hlg Missouri 155 1.45 Bolsrhatel Mng .011 .0114 Bwana Itng 4 25 4.16 Central Manitobl. 42 .42 .42 53 00 1.35 4 85 3 25 8 25 12 75 22 50 17.10 50 CO 50.50 29.00 .13 .90 10 50 60 8 36 .12 I 60 53 00 83 00 Commltli Petrol 1.40 1.30 rialhoinle Mng 8 25 4.85 Fast Crest 3 25 3 10 Foot Hill Co 50 8 25 Falron Bridge ..13 00 12.75 Borne Oil Co. ...23 00 21.50 Hudson Bay 17.80 17.05 lot Nickel .50 00 60 00 Tut p.

ttul .....50 50 50 50 Imperial Oil 29.00 29 00 Manion .13 .13 Mandy Mines 90 85 Mayland Mng ..10 55 10 25 Osisko Mng 60 60 Pend Oreill 5 50 8 25 do rluhts 20 10 Ventures 8.00 t.80 4,327.000 1.297.000 other deposits decreased Notee reserve Increased (ioveiiinient securities Increased. 670.000 The nrnnnrtlsn of liability Is 55.84 per cent compared 3 per cent last week. Bat of discount, 5'-a per cent, 99'2 871a 15 9814 5 991-4 991 993,4 I 98'a I 98 I 97 I 98 106 98 I 90 5 120 I 19' I 15 497'i IS' 4 431 2 202 12(2 70 63'4 2R'-l 40 121 20i! 9341 fOOOO 22 201 1 22 630 18''? 18 I 100 261 24l-a 251 200 4l'a 4l'a 2300 I6' 1 51 4 I 6' a 2G0 55 53'-a 64 1700 44'2 44'a 441 a 1400 39 38 1 4 39 100 48 48 48 10 550 550 550 ICO 6-14 514 51,4 200 32 32 12 64's 2(4 2 '4 Rervel Pel vte Seton I.enth Sharon Rll Sliattitck II Mill ihesff p-n 11 24 I8I0J 17 4. id Hk 20iISikorkr Avia 2' 2 I Silica (iel tfs "4 I Rims eit pf 31 Rimer Mil I I 1'4 1 Sill ViScostl etfs, 65 RonatiuQ Tube 'a 3'? t' Buhr 6'2S '30. 8 Buhr 6i j.

'31 Kuhr 6' 2 '32. Il Buhr 6' 5 '33. t.T Ruhr 6' 2 '37 fill Kuhr 6' 2s '38! Pftl. 5s IVehst.r Ri'fs '39 West Pwr 5' '57 Weslvaeo 5' '37. I 101 '4 FOREIGN BONDS Sales in tsue.

$1000 HiBh, Uw, Her Kl 6' 2s '59 2 91(4 91 Boson 7s '47 5 89 Aire, 7s '52. 100' a Buen Air '47. I 1011 BANK OF FRANCE PARIS, May 23 (A. P.l.-The weekle atate. ment of the Rank of France shows the following changes, in francs: fluid Increased 9.000.000 Right balances abroad decreased.

46.000.000 Bills discounted st home 276. 000. 000 Bills bought ahroad Increased 1 3. 000 000 Advances decreased 48.000 000 Clrrnlnlion decreased 556 000.000 Current aerounta Ineressed 286.000,000 Rate of discount, 31 per cent. Last rb la, 81 7 i.